Coconut Milk Market - Global Industry Dynamics 2019-2020, Trends and Forecast 2021-2028

Coconut milk is a complex liquid made from coconut pulp. It has a rich and delicious coconut milk flavor, and high oil quality. The product can also be used to make substitutes for milk such as almond, soymilk, etc. The sweetened distilled coconut milk is used in different food items to improve the taste of food and beverages. Changes in dietary preferences for consumers and an increasing the vegetarian population are expected to fuel demand for the product. People have turned toward a vegetarian diet due to environmental and ethical issues, which has increased the consumption of coconut milk. Coconut milk strengthens the immune system and reduces diseases.

Driving & Restraining Factors

  • The major driving factor is increasing market awareness and the growing vegan population have led to strong product demand in the coming years

  • The rise in customer shift toward the consumption of plant-based food products and the purchase of a particular product are major factors in market growth

  • Demand for coconut milk in the global market is increasing, as market key players are attempting to create vegetarian products that suit consumer needs

  • Rapid urbanization and increasing population would be a major driving factor in the coconut milk market

  • Demand for coconut milk in the global market is increasing at a comprehensive rate in personal care and vegan milk industries, as it increases glucose levels of individuals

  • Other major factors are health benefits, non-dairy products, and personal care would create awareness among consumers in developing countries, which would help to boost the growth of the coconut milk market

  • The major restraining factor hampering the coconut milk demand is the restricted use of tender coconuts in food preparation

  • Excess intake can cause high blood cholesterol by increasing the level of lipoprotein cholesterol at high density and contributing to allergies. These factors can limit the growth of the coconut milk market in the coming years.

Key Trends

  • Demand for coconut milk would increase all over the globe due to the growing food & beverage industry. The growth of the population, health-conscious lifestyle, and increasing disposable income of consumers are also some of the major factors, which would boost the coconut milk market in the coming years.

  • Major manufactures who are investing in new technologies and development & research in the food and beverages industry are now using coconut milk products to produce vegan products to improve the nutritional value of products and preferences

Market Segmentation

  • The coconut milk market can be segmented based on nature, flavor type, product type, packaging, application, distribution channel, and region

  • Based on nature, the coconut milk market can be bifurcated into organic and conventional

  • Based on flavor type, the coconut milk market can be segregated into sweetened and unsweetened

  • In terms of product type, the coconut milk market is divided into full-fat coconut milk products, refrigerated coconut milk foods, lite coconut milk products, cream of coconut, and coconut milk produces

  • Based on packaging, the coconut milk market is split into bottles, pouches, cans, and cartons

  • Based on application, the coconut milk market is further segmented into food & beverage manufacturers, cosmetic & personal care, food services, and the retail industry

  • In terms of the distribution channel, the coconut milk market can be classified into offline and online. The offline segment can be sub-divided into specialty or retail stores and departmental stores. The online segment is sub-divided into company-owned websites and e-Commerce sites.

  • Based on region, the global coconut milk market can be divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, Italy, and Rest of Europe), Asia Pacific (China, India, Japan, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of the Middle East & Africa), and South America (Brazil and Rest of South America)

Competition Landscape

Key players operating in the global coconut milk market are Celebes Coconut Corporation, Chef's Choice Foods Co., Charoen Pokphand Foods PCL., Freshfruit Philippines., Goya Foods, Inc., GraceKennedy Group., McCormick & Company, Inc., PACIFIC FOODS OF OREGON, LLC., M&S Real Food Sdn. Bhd., and Hak cipta terpelihara.

Segments:

  • By Nature

    • Organic

    • Conventional

  • By Flavor Type

    • Sweetened

    • Unsweetened

  • By Product Type

    • Full Fat Coconut Milk Products

    • Refrigerated Coconut Milk Products

    • Lite Coconut Milk Products

    • Cream of Coconut

    • Coconut Milk Products

  • By Application

    • Food & Beverage Manufacturers

    • Cosmetic & Personal Care

    • Food Services

    • Retail Industry

  • By Distribution Channel

    • Online

    • Offline

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